Anyone can make a legacy gift, not only the wealthy. Take action now to ensure a bright future for our libraries.
Donor Advised Funds
Donor advised funds allow for immediate tax deductions and make charitable contributions over time. You can distribute funds to the ImagineIF Libraries when it best fits your financial plans through DAF Direct, an online portal for recommending grants from your Donor Advised Fund.
When retirement plans like pension funds, 401ks, 403bs, and IRAs are left to an individual other than a spouse, they can be subject to income taxes and estate taxes.
An alternative is to make these funds go further by leaving them to the ImagineIF Library Foundation, exempting them from income and estate taxes. ImagineIF would receive 100% of the remaining benefit in your retirement plan, whereas your heirs may receive only a portion of the benefit.
If you own a life insurance policy that has outlived its usefulness, you can gift it to the Library. By naming the ImagineIF Libraries as the owner and irrevocable beneficiary of the policy, you qualify for an income tax deduction for the cash value of the policy.
Designating assets like savings, checking, and brokerage accounts to the ImagineIF Libraries incurs no cost to you and allows whatever balance (or portion thereof) remaining to pass to the Library upon your death.
Giving the ImagineIF Library Foundation’s address and registered charity EIN number (81-0460195) to your estate planning attorney or other professional will ensure they have the correct information when it comes time to draft your will.
Gifts of Stock
When you donate a gift of stock to the Foundation you receive a tax deduction for the full fair market value of the gift. Our financial policy dictates that the Foundation convert gifts of stock to cash upon receipt.
Our sister organization, Friends of the Library, gratefully accepts gifts of books and other media to be sold at their annual book sale. All book sale proceeds benefit ImagineIF Libraries.